Clearances for appointment of whole time
directors, non-executive chairmen and non-official directors of
public sector banks

60 days

16.

Approval of Annual Banking Outlet
Expansion Plan (ABOEP) in respect of Domestic Scheduled Commercial
Banks (excluding RRBs) for which the general permission has been
withdrawn and for Small Finance Banks, Payment Banks and Local Area
Banks

45 days

17.

Advances to banks’ Directors

90 days

18.

Staff Incentive Schemes by banks for deposit mobilization

90 days

19.

Authorisation for import of gold/silver by banks

60 days

20.

Authorization for opening of banking outlets under approved ABOEP

30 days

@The timeline for issue of
in-principle approval for private sector bank licences commences from
receipt of report from the Independent External Advisory Committee.

Declaration of dividend– (In case there
are special reasons or difficulties for any PD in strictly adhering
to the guidelines relating to Dividend, it may approach RBI in
advance for an appropriate ad hoc dispensation in this regard) 45 days

@ –The proposals are put up for
approval to Board for Regulation and Supervision of Payment and
Settlement Systems (BPSS). BPSS ordinarily meets once in three months.
# – Payment and Settlement Systems Act, 2007 [Sec 7(4)] states that
RBI shall endeavour to dispose of applications for Authorisation within
six months from the date of filing. The proposals are approved by the
BPSS. BPSS ordinarily meets once in three months.

a) Employee Stock Ownership Plan(ESOP) not covered under general permission
b)
Rights Issue not covered under general permission
c)
Permission for investment by erstwhile Overseas Corporate Body(OCB)
d)
NOC for repatriation of share application money beyond 180 days
e)
Extension for retention of share application money beyond 180 days
f)
Conversion of shares from non-repatriation basis to repatriation basis
g)
Approval for holding share application money in foreign currency in India/ abroad
h)
Approval for registration of Foreign Venture Capital Investor(FVCI)
i)
Increase in holdings in a company beyond the limit to 24 % up to sectoral cap/ statutory ceiling

30 days

j) Approval for Pledge of shares

40 days

3.

Receipt of Capital Contribution

30 days

4.

a)Transfer of shares from Non Resident Indian (NRI) to Non Resident(NR)

40 days

b) Gift of shares from Resident to NRI
c) Delay in reporting
d) Permission for opening of escrow account by Authorised
Dealer(AD) Category – I bank beyond the period of 6 months for
effecting transfer of shares

60 days

5.

a) Permission for establishment of new Liaison Office(LO)/ Branch Office(BO) in India under Approval Route

40 days

b) Approval for establishing additional LO/BO in India.
c)
Permission for shifting LO/BO to another city.

Permission to make investments in non-PSU bonds where prescribed criteria are not met

30 days

3.

Permission to issue Long Term (Subordinated) Deposits and Innovative Perpetual Debt Instruments

30 days

4.

Permission to take up insurance business and renewal thereof

30 days

5.

Permission for commencing co-branded credit card business and renewal of permission

30 days

State Co-op. Banks

6.

Grant of branch licence to State Co-op. banks

30 days

7.

Grant of permission to open Extension Counters

30 days

8.

Permission for opening specialized branches for
conducting forex business, etc., and for up-gradation of existing
extension counters into full-fledged branches

30 days

9.

Permission for shifting of a bank branch to a
different locality/municipal ward other than the one mentioned in the
licence

30 days

10.

Inclusion in the 2nd Schedule to RBI Act 1934

30 days

Foot Note:

All the above estimated timelines for regulatory approvals of various departments (I to XI) are anticipated to be met by in most cases, but a few may exceed these timelines.

If departments are likely to exceed the timeline, they will revert to the applicant.

In case an applicant does not get a response within the indicated
timeline, they can approach the head of the concerned department. The
department head will respond with the status of the application, the
reason for delay, request for additional information, if any, as well
as likely time for disposal of the application.

In some situations, a change in procedure or in the environment
will change the estimated time for action. In such cases, the timeline
for approval will be modified appropriately.

The timelines given in column 3 for all above Departments (I to XI)
are subject to receipt of complete information/ documents from the
banks/ institutions concerned as well as receipt of regulatory/
supervisory inputs/ due diligence reports/ approvals from other
regulators and the concerned Government Agencies/ Departments.